GS Retail to launch foreign exchange kiosks in GS25 convenience stores

GS Retail supermarket chain company s one of the leading retailers in South Korea. It is visited by many tourists as well thus, it will be launching foreign exchange kiosks to offer financial services to them.

GS Retail is planning to extend its financial services to foreigners by adding kiosks to its GS25 convenience store outlets across the country. The booth is also meant to be the company’s response to the growing demand for tourists.

As per The Korea Economic Daily, the South Korean convenience store franchiser revealed on Monday, Dec. 2, that it will be introducing the foreign currency exchange stalls in its own convenience store chain and GS The Fresh supermarket locations.

At this time, the kiosks will still be on pilot and will be available in 10 GS25 convenience stores and GS The Fresh outlets located in areas where most foreign visitors gather, such as Dongdaemun, Gimpo Airport, and Yeongdeungpo.

The GS Retail branded stores in these areas were chosen as the first ones to have the forex kiosk. The company further explained that made the decision to build the forex booths for the purpose of offering financial services and making it easier for tourists to exchange their currencies. It will also be easier for foreigners to access other related services after the pandemic.

Meanwhile, the foreign exchange kiosks that were set up in GS25 and GS The Fresh locations were developed by Ooddy, a company that also operates the integrated foreign currency exchange service called BuddyCash.

Visitors from other countries can exchange their dollars, euros, yen, and yuan in the forex kiosks. It will be accepting foreign currencies from 15 countries and exchange them for won to use while staying in South Korea. Finally, this service offers big convenience to tourists, so GS Retail is expecting positive responses from users.